When will exchange of contracts occur in purchase conveyancing in Kensington and do I need to attend the solicitors branch?
Where you are round the corner to one of the conveyancing solicitors in Kensington you are invited in to sign contracts. That being said, the firms we recommend offer countrywide coverage for conveyancing and provide just as detailed and professional a job for you when communicating with you digitally. The executing of the contract is not the important part. A signed contract is just a prerequisite for the conveyancer to address the formalities when the time is right, which is ordinarily shortly after signing. The procedure is is usually a five minute process, although where a lengthy "chain" is in play, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Kensington)to be in the office available at the end of the phone to exchange contracts.
I am purchasing a semi-detached house in Kensington. How practical is it for me to do the conveyancing?
Leaving aside the complexities and merits of DIY conveyancing in Kensington you will have to appoint a solicitor on your bank's conveyancing panel to look after their interests. Most people therefore find it easier to let the solicitor act for them and the lender. Furthermore there is minimal cost savings to be made in you doing conveyancing for yourself and another lawyer conducting the conveyancing for the lender. Please feel free to use the search tool to find a lawyer on your lender panel in Kensington.
I am looking for a ground for flat up to £195,000 and found one close by in Kensington I like with a park and railway links nearby, the downside is that it's only got 49 years on the lease. There is not much else in Kensington for this price, so just wondered if I would be making a mistake acquiring a short lease?
Should you require a mortgage that many years may be a potential deal breaker. Discount the price by the amount the lease extension will cost if it has not already been discounted. If the current proprietor has owned the property for at least twenty four months you could request that they start the process of the extension and pass it to you. You can add 90 years to the current lease term with a zero ground rent applied. You should consult your conveyancing solicitor concerning this.
Am I right to be suspicious that 3rd parties that I am dealing with are encouraging me to use a factory type conveyancing firm as opposed to a local Kensington conveyancing firm?
As with lots of professional services, often suggestions from connections can be worth their weight in gold. Nevertheless there are many players in a conveyancing deal; estate agents, financial adviser and lenders may suggest conveyancers to use. Sometimes the conveyancers might be known to one of the organisations as experts in their field, but occasionally there is an underlying financial incentive behind the recommendation. You have the right to select your preferred conveyancer. However, bear in mind that some mortgage providers specify a panel list of conveyancers you are obliged to use for the mortgage aspect of your transaction.
We are one month into a leasehold purchase having been referred to a firm by the local agent to execute conveyancing in Kensington. I am am extremely frustrated with the quality of service. Could you you assist me in finding new conveyancers?
They would need to be really bad in order to consider diss instructing them. Has the mortgage been sent? In the event that it has you will need to make them aware of the replacement conveyancer and get the mortgage documents are re-issued. The solicitor ideally needs to be on the mortgage company approved list to avoid escalating costs and delays. That should be your starting point. Our find a solicitor tool should help you find a bank approved solicitor for your home move in Kensington
I've recently bought a leasehold property in Kensington. Am I liable to pay service charges relating to a period prior to my ownership?
Where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I have attempted and failed to negotiate with my landlord for a lease extension without any joy. Can the Leasehold Valuation Tribunal adjudicate on such matters? Can you recommend a Kensington conveyancing firm to act on my behalf?
Absolutely. We can put you in touch with a Kensington conveyancing firm who can help.
An example of a Lease Extension matter before the tribunal for a Kensington residence is 93 Oakwood Court in June 2010. the LVT determined that the premium to be paid for the new lease was £492,083, This case affected 1 flat. The unexpired term was 37.79 years.